>>> Europe : Brokers Upgrades & Downgrades - 2nd of July 2020

>>> Up
* Assa Abloy Raised to Buy at Deutsche Bank; PT 220 kronor
* Heineken PT Raised to 106 euros from 90.80 euros at Berenberg
* Nobia Raised to Buy at Handelsbanken; PT 62 kronor
* Pernod Ricard PT Raised to 165 euros at Berenberg
* Rio Tinto Raised to Buy at Deutsche Bank
* Zalando Raised to Buy at MainFirst; PT 75 euros

>>> Down
* Alfen Cut to Hold at ABN Amro Bank; PT 38.50 euros
* Auto Trader Cut to Hold at Liberum; PT 515 pence
* BHP Group PLC Cut to Hold at Deutsche Bank
* Deutsche Bank Cut to Sell at SocGen; PT 6.50 euros
* Europris Cut to Neutral at SpareBank; PT 50 kroner
* Heineken Cut to Neutral at JPMorgan; PT 80 euros
* National Grid Cut to Hold at HSBC; PT 1,000 pence
* Valmet Cut to Hold at SEB Equities; PT 25 euros

>>> Initiation
* CENIT AG Rated New Buy at MainFirst; PT 12 euros
* CM Rated New Buy at ABN Amro Bank; PT 23 euros
* Wacker Chemie Rated New Underperform at BofA; PT 55 euros

>>> Call
* Aena, Zurich and Vienna Top Airport Recovery Picks: Berenberg
* Kingfisher Added to RBC’s Top 30 Ideas in 3Q Update, Diageo Out
* Insurance Top Pick in Financials, UniCredit and BNP in Banks: MS